Delfi Faces Earnings Hit From Higher Raw Material Prices -- Market Talk

Dow Jones03-19

0415 GMT - Delfi faces an earnings hit from higher raw material prices, RHB Research analyst Alfie Yeo says, noting that the Singapore-listed company's 2023 revenue growth and operating margins missed his estimates. RHB lowers the stock's target price to S$1.33 from S$1.55 and assumes slower revenue growth and narrower margins for Delfi to reflect current uptrend in prices of the company's key ingredient cocoa. However, RHB retains its buy call on the stock given the chocolate confectionery manufacturer's strategy to hedge against price increases and capability to right-size its products and defend earnings margins. Shares are 1.7% lower at S$0.89. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 19, 2024 00:15 ET (04:15 GMT)

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